Free Trial

(M3) Watching Support At The 50-Day EMA

  • RES 4: 4510.50 0.618 proj of the Mar 20 - Apr 21 - May 4 price swing
  • RES 3: 4457.50 0.5 proj of the Mar 20 - Apr 21 - May 4 price swing
  • RES 2: 4448.00 High Jan 2008 (cont)
  • RES 1: 4409.50 High Nov 18 2021 (cont) and a major resistance
  • PRICE: 4275.00 @ 06:38 BST May 31
  • SUP 1: 4252.00 Low May 25
  • SUP 2: 4233.00 Low May 4 and a key near-term support
  • SUP 3: 4175.00 Low Mar 30
  • SUP 4: 4164.00 High Mar 22

Eurostoxx 50 futures managed to find support last week at 4252.00, the May 25 low. This means that for now, support at the 50-day EMA, at 4272.40, remains intact. The contract is trading lower today. A clear break of the EMA would open 4233.00, May 4 low and a key short-term support. Clearance of this level would strengthen bearish conditions. The bull trigger is at 4409.50, the Nov 18 2021 high (cont) and is a major resistance.

To read the full story


MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.